Commerce Bancshares’ (CBSH) Sell Rating Reiterated at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods restated their sell rating on shares of Commerce Bancshares, Inc. (NASDAQ:CBSH) in a report published on Friday. They currently have a $51.00 target price on the financial services provider’s stock.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Commerce Bancshares from a hold rating to a buy rating and set a $65.00 price objective for the company in a research report on Monday, July 17th. Stephens restated an equal weight rating and set a $56.00 price objective (up from $52.00) on shares of Commerce Bancshares in a research report on Monday, July 17th. Barclays PLC restated an equal weight rating and set a $54.00 price objective (down from $55.00) on shares of Commerce Bancshares in a research report on Wednesday, July 12th. BidaskClub raised shares of Commerce Bancshares from a sell rating to a hold rating in a research note on Tuesday, June 13th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $61.00 target price on shares of Commerce Bancshares in a research note on Sunday, June 11th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $55.25.
Commerce Bancshares (CBSH) opened at 55.17 on Friday. The stock has a market capitalization of $5.61 billion, a PE ratio of 19.99 and a beta of 0.82. Commerce Bancshares has a 1-year low of $45.37 and a 1-year high of $60.61. The company’s 50 day moving average is $55.53 and its 200-day moving average is $56.01.
Commerce Bancshares (NASDAQ:CBSH) last released its quarterly earnings data on Thursday, July 13th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.05. Commerce Bancshares had a net margin of 23.79% and a return on equity of 12.01%. The firm had revenue of $305.89 million during the quarter, compared to analysts’ expectations of $309.44 million. During the same period last year, the business earned $0.70 earnings per share. Commerce Bancshares’s revenue was up 6.1% compared to the same quarter last year. Analysts forecast that Commerce Bancshares will post $2.94 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, September 7th. Commerce Bancshares’s dividend payout ratio (DPR) is presently 32.64%.
In other news, Director John R. Capps sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $54.82, for a total value of $548,200.00. Following the completion of the transaction, the director now owns 12,828 shares of the company’s stock, valued at $703,230.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman David W. Kemper sold 10,132 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $57.83, for a total transaction of $585,933.56. Following the completion of the transaction, the chairman now directly owns 1,270,757 shares of the company’s stock, valued at approximately $73,487,877.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,819 shares of company stock valued at $1,174,728. 4.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CBSH. Captrust Financial Advisors purchased a new position in shares of Commerce Bancshares in the second quarter valued at approximately $106,000. Citizens Financial Group Inc. RI purchased a new position in shares of Commerce Bancshares in the first quarter valued at approximately $119,000. Citizens Financial Group Inc RI boosted its stake in shares of Commerce Bancshares by 25.5% in the second quarter. Citizens Financial Group Inc RI now owns 2,650 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 539 shares during the period. Mosaic Family Wealth LLC boosted its stake in shares of Commerce Bancshares by 5.8% in the second quarter. Mosaic Family Wealth LLC now owns 3,297 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 181 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Commerce Bancshares by 8.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,339 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 264 shares during the period. 62.20% of the stock is owned by institutional investors and hedge funds.
About Commerce Bancshares
Commerce Bancshares, Inc is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust and asset management products and services to individuals and businesses. The Company operates through three segments: Consumer, Commercial and Wealth.
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